Trussardi Acquired by Italian Group Miroglio

The rumor had been circulating for several weeks, but it is now official: Italian group Miroglio, a major player in Italian fashion and specialist in ready-to-wear, is acquiring the Trussardi fashion house. Founded in 1947 in Alba, Piedmont, by Giuseppe Miroglio, son of fabric merchants, this family group quickly internationalized. Today, it encompasses nine brands, including Elena Mirò, a pioneer in plus-size women's fashion, as well as Caractère and Per te By Krizia.

With a presence in 22 countries and 1100 monobrand stores, Miroglio can rely on a customer base estimated at 5 million people. At the beginning of the year, Bloomberg reported on this possible acquisition, which the Milan Court has now validated. Although the amount has not been officially disclosed, it is known that the purchase includes the Trussardi House, its historical archive, several boutiques including about fifteen located in strategic locations in Italy, as well as part of the workforce. The Trussardi Palace on Piazza della Scala in Milan, an iconic building for this fashion house that was a sensation in the 1980s, will remain the exclusive property of the Trussardi family.

As part of this acquisition, the Miroglio group aims to implement an omnichannel strategy for Trussardi, particularly targeting Italy, Eastern Europe, and the Middle East, regions where the brand is still highly coveted. Several unsuccessful turnaround attempts had been made to save the brand. In 2019, Trussardi came under the ownership of the Italian investment fund Quattro R. This operation saw the birth of a new company, owned 70% by the investment fund and 30% by heir Tommaso Trussardi, CEO of the house. However, this attempt did not yield the expected results. Now, it's Miroglio's turn to restore the brand's reputation. "Trussardi, with its unique heritage and strong appeal in the premium segment, represents an icon of Italian heritage," commented Alberto Racca, CEO of the Miroglio group. According to forecasts, the Miroglio group anticipates a turnover of €550 million for 2023, with an EBITDA of around 10%.